History
The introduction of the krona, which replaced at par the riksdaler, was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until World War I. The parties to the union were the Scandinavian countries, where the name was krona in Sweden and krone in Denmark and Norway, which in English literally means "crown". The three currencies were on the gold standard, with the krona/krone defined as 1⁄2480 of a kilogram of pure gold.
After dissolution of the monetary union, Sweden, Denmark, and Norway all decided to keep the names of their respective and now separate currencies.
Read more about this topic: Swedish Krona
Famous quotes containing the word history:
“To care for the quarrels of the past, to identify oneself passionately with a cause that became, politically speaking, a losing cause with the birth of the modern world, is to experience a kind of straining against reality, a rebellious nonconformity that, again, is rare in America, where children are instructed in the virtues of the system they live under, as though history had achieved a happy ending in American civics.”
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—Henry David Thoreau (1817–1862)
“As History stands, it is a sort of Chinese Play, without end and without lesson.”
—Henry Brooks Adams (1838–1918)